FRANKFURT - Deutsche Bank AG (NYSE:DB), acting as Stabilisation Coordinator, announced today that Teleperformance (EPA:TEPRF) SE, a global leader in outsourced omnichannel customer experience management, is entering a pre-stabilization period in anticipation of a new EUR 5-year bond issue. The stabilization period is expected to commence today, Tuesday, and is slated to end no later than February 25, 2025.
The announcement indicates that Citigroup Inc (NYSE:C)., Deutsche Bank (ETR:DBKGn), J.P. Morgan Chase & Co., Standard Chartered (OTC:SCBFF) PLC, and Wells Fargo (NYSE:WFC) & Co. will act as Stabilising Managers. They may engage in transactions to maintain the market price of the securities at a level higher than that which might otherwise prevail. However, there is no certainty that stabilization will occur, and if initiated, it may be discontinued at any time.
The aggregate nominal amount of the bond, described under ISIN Code FR001400WRE9, has yet to be confirmed. Initial price thoughts (IPTs) for the offer price are set at mid-swap (MS) +225 basis points area. This means the final issue price will be determined based on the prevailing market swap rate plus the additional spread.
The stabilization mechanism is in place to support the market price post-issuance and is a common practice in bond offerings. It is carried out in accordance with the rules set by the Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse Regulation (EU/596/2014) and the UK Financial Conduct Authority's Stabilisation Binding Technical Standards.
The announcement also clarifies that the securities may be over-allotted as permitted by applicable law, though the maximum size and conditions for the use of the over-allotment facility are yet to be determined.
This bond issue is targeted at professional investors in the United Kingdom (TADAWUL:4280) with experience in investment matters, high net worth individuals, and qualified investors in the European Economic Area. The securities will not be registered under the United States Securities Act of 1933 and, as such, will not be offered or sold in the United States absent registration or an exemption from registration.
The information in this article is based on a press release statement and is intended for informational purposes only, not constituting an offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities.
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